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Returning to November's trend, forming a long term triangle
Double top with divergence on the RSI, we Have been waiting for a correction for a long time. I wouldnt short bitcoin but start saving soome money to buy it!!
Bitcoin is still consolidating around level 8200$ (7000€ area).
Based on the 4H timeframe we see an MACD divergence that has formed.
Bitcoin bulls try to keep on pushing up yet a decent retrace to level 7500$ (6600€) or 7200$ (6300€) (area lower ascending trading channel Trendline) or at least further consolidation around 8200$ (7000€) area into the next day or ...
TA on XBTEUR - Kraken
I have been tracking this move for a while as I was original looking for another impulse wave to drive price up.
What I see developing now is a good platform to start trading long with support at the (A) €2479 this zone has shown strong support over the last few weeks and if continues to hold a price target on the extension up to (D) €4072 which is also the ...
After an incredibly strong BTC bull market, my slow-moving average line (orange) has finally crossed the fast-moving average line (green), which has previously nearly always led to a downtrend. Although I'm still bullish on the overall bull trend of BTC, I expect a market correction.
**Not a financial expert, please trade after having done your own due diligence**
XBT experienced a long needed correction from a parabolic rise. The volatility of the market make predicting price movement in the short term difficult but XBT remains bullish in the long term. The fundamentals are too strong to do otherwise.
The market is not at a great entry point right now as we are at a strong zone of support/resistance.
Volume is poicking ...
So far even with the ETF, with the scalability problems and everything else, bitcoin has shown a remarkable resistance. Basically it keeps growing from August 2015 inside an Exponential Channel.
The channel has a doubling time of 260 days. Which means that as long as the bitcoins are inside you are doubling your money in 9 months. Except that if you buy when it ...
Expect deeper correction to some of the previous highs. At these areas I will look for long.
Expect deeper correction to some of the last highs. A will look for long at some of these areas.